HyperVouchers and Cashback Vouchers both follow the similar concept of committing money to a brand/merchant and receiving a reward in return. For HyperVouchers this reward is typically an AGR (Annual Growth Rate) which can be spent only with the brand you’ve committed your money to. For Cashback Vouchers, the reward is instant cashback which can be spent anywhere.
The key difference between HyperVouchers and Cashback Vouchers is the way that you spend:
- HyperVouchers sit within the ‘HyperJar ecosystem’. This means that the only way to spend them is by using the HyperJar prepaid card when you come to pay. And, thanks to our merchant-linking technology, the HyperVoucher is spent automatically without you needing to look up code numbers or scan barcodes. If the HyperVoucher balance is lower than the amount you want to pay, the rest of the payment will be covered with money from your HyperJar account.
- Cashback Vouchers are like any other e-gift card. They can only be spent by scanning or typing the barcode/QR code/other code. Like redeeming any other voucher, you don’t use a payment card when you spend – only the vouchers. You can choose to top up the purchase with your HyperJar card (say for example you’re spending £50 in M&S and your voucher is for £40 – you can use your HyperJar card to pay for the outstanding £10.
Both HyperVouchers and Cashback Vouchers reward you for planning ahead.